MINORITY CONDEMN GOVERNMENT OVER COCOA PRICE REDUCTION

The Minority in Parliament has strongly criticised the government over the reduction in cocoa producer prices, describing the move as a blow to farmers already grappling with economic hardship.

Addressing journalists in Parliament yesterday, the Member of Parliament for Karaga, Dr Mohammed Amin Adam, said the Minority expected the government to provide a bailout to COCOBOD instead of reducing the price paid to farmers, especially at a time when it claimed the economy was performing better.

He argued that the current crisis in the cocoa sector stemmed from the government’s failure to implement the COCOBOD turnaround strategy inherited from the previous New Patriotic Party (NPP) administration, which had been developed in consultation with the International Monetary Fund (IMF).

According to him, the NDC government did not need to announce a new restructuring strategy because the previous administration had already put the necessary measures in place before leaving office.

Dr Adam also contended that the government’s “over valuation” of the economy had weakened export competitiveness, including cocoa exports on the global market, and undermined domestic production of goods and services.